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A New Mexico deed of trust assigns a real estate title to a trustee to keep until a loan has been repaid from the owner of the property (the ?borrower?) to the provider of the loan (the ?lender?).
Title insurance protects the interests of buyers and lenders in cases of issues associated with a defective title. Cost of title insurance in New Mexico depends on the state regulations and home purchase price. An owner's title policy is an optional purchase, whereas, a lender's title policy is a mandatory purchase.
New Mexico is a community-property state. All parties to a transaction appear with their attorneys for closing. Conveyance is by bargain-and-sale deed. Mortgages are the security instruments in this lien-theory state.
The POA must be signed in the presence of a notary public to be valid. New Mexico law does not require a POA to be witnessed, but witnesses may strengthen the validity of the document if it is challenged.
Are You In An Attorney State? StateAttorney State?South Carolina?Yes - Attorney StateSouth DakotaNoTennesseeNoTexasNo47 more rows ?
New Mexico is a community-property state. All parties to a transaction appear with their attorneys for closing. Conveyance is by bargain-and-sale deed.